Looking to start investing in truck parking, check out my truck parking course with never before seen videos, workbooks, and all you need to get started! iitp.circle.so/join?invitation_token=6e04caa380254b8433007fbdaf66411dd8b991c6-39e082df-4ddf-42d2-8821-3fbc936fe774
While your analysis provides good information on the market price and would be helpful for the truck driver, there is so much more that goes into this. From a business investment point of view you would need to look at the property capital investment and location. Parking is more viable in city center locations. Truck drivers consider it a cardinal sin to pay for parking. That is why most truck stops outside of city locations do not charge. It’s all about the timeline to recoup your investment. Example; in the Orlando market if you are lucky you will pay $600K an acre. At say 35 trucks an acre at say 4 acres, taking into account the traffic flow you might end up with 70 to 80 spots. When you do the math on both sides it’s pretty tuff to make money charging anything under $20 per day. You would lose your shirt because again you might get 80% occupancy if your lucky because truckers first inclination is that parking should be free. I have been doing this for many years and lucky for me the land is free and clear and I have other demand services and amenities that pulls the driver in.
Hey Rick, really appreciate the detailed response! I agree totally on the daily parking market, its different from what we mostly do as month to month. Do you own daily parking/truck stop locations?
Hey whats up man! Im looking to get into this line of business cool to see someone also whos been doing this for awhile it seems. Would love to connect and pick your brain on some ideas and do/donts. Let me know and i can send you my email to connect!
If you’re on site, stripe or square offer credit card readers that connect to a phone. For the inventory management side, we recommend Rig Hut software
@@RonaldRohdeLaw raw land. Half is gravel. Was used as a shipping container storage. I’d like to add fencing, lighting and security. Zoned heavy industrial. Just worried about the unexpected costs ie surveying/environmental etc. great channel btw
Looking to start investing in truck parking, check out my truck parking course with never before seen videos, workbooks, and all you need to get started! iitp.circle.so/join?invitation_token=6e04caa380254b8433007fbdaf66411dd8b991c6-39e082df-4ddf-42d2-8821-3fbc936fe774
Great walkthrough! Thanks for putting this together.
I really appreciate that! love the comments
Great breakdown of your process!
Thanks Chad! Just an intro. First level look
While your analysis provides good information on the market price and would be helpful for the truck driver, there is so much more that goes into this. From a business investment point of view you would need to look at the property capital investment and location. Parking is more viable in city center locations. Truck drivers consider it a cardinal sin to pay for parking. That is why most truck stops outside of city locations do not charge. It’s all about the timeline to recoup your investment. Example; in the Orlando market if you are lucky you will pay $600K an acre. At say 35 trucks an acre at say 4 acres, taking into account the traffic flow you might end up with 70 to 80 spots. When you do the math on both sides it’s pretty tuff to make money charging anything under $20 per day. You would lose your shirt because again you might get 80% occupancy if your lucky because truckers first inclination is that parking should be free. I have been doing this for many years and lucky for me the land is free and clear and I have other demand services and amenities that pulls the driver in.
Hey Rick, really appreciate the detailed response! I agree totally on the daily parking market, its different from what we mostly do as month to month. Do you own daily parking/truck stop locations?
@@RonaldRohdeLaw Yes I do. Monthly parking is even more tricky depending on your CapEx. A mixture of both is more ideal.
@@rickibro3523 Mixture sounds ideal to me, great points!
Hey whats up man! Im looking to get into this line of business cool to see someone also whos been doing this for awhile it seems. Would love to connect and pick your brain on some ideas and do/donts. Let me know and i can send you my email to connect!
@@IL-2sturm it can be very lucrative, good way to own appreciating land! email info@ronaldrohdelaw.com
What are the best software or equipment needed to accept payment when they get on site or make reservations?
If you’re on site, stripe or square offer credit card readers that connect to a phone.
For the inventory management side, we recommend Rig Hut software
I live in Nashville and am looking at a potential 4.5 acre lot. I rent from two truck yards currently which is why I’m looking at buying.
is it improved ? or raw land?
@@RonaldRohdeLaw raw land. Half is gravel. Was used as a shipping container storage. I’d like to add fencing, lighting and security. Zoned heavy industrial. Just worried about the unexpected costs ie surveying/environmental etc. great channel btw
Great Great video help me allot as thinking about to start parking truck business ,,, wish I can hire you as advisor thank you
Thank you, happy to help, email info@ronaldrohdelaw.com
How to turn yard to truck parking?
I posted an entire video ! Actual Costs of Developing Truck Parking
th-cam.com/video/rPXHwXgqWs8/w-d-xo.html
Hello
I am trying to get into this business and i have couple questions. I hope to hear from you soon
What can we help with?
I would like to start one in michigan and I wanted to talk to you privately by email or phone